China’s refineries processed a record amount of crude oil last month, at 14.8 million bpd, up by 3.9% from May when run rates also broke records, Reuters reported, citing data from the national statistics bureau. The average daily run rates for the first half of the year were even higher, at 15.13 million barrels—up by 10.7% from a year earlier, the data also showed. Refinery runs globally surged by as much as 1.6 million barrels per day in June, up from a stagnant performance in May, the International Energy Agency said in its Oil Market Report for July published earlier this week. After the June jump, which was the largest monthly in
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